TORONTO – Canadian pension plans had positive returns in the third quarter of 2025, buoyed by equity markets, according to the Northern Trust Canada Universe. The median Canadian Pension Plan returned 3.6% for the quarter and 4.3% year-to-date for the period ending September 30, 2025. The third quarter unfolded amid persistent inflation, softening labour markets, and evolving central bank policy. In Canada, the employment backdrop weakened, a reflection of the pressures on the Canadian economy.